Anyone who bought in the DM and LJ or any other beach area in the last 4 years is very likely making large mortgage payments. If so, job loss could force them to sell. Unemployment is rising. I wonder how many Alt-A and no-money down loans were used to purchase homes in these areas?
In this market, most people selling are doing so out of duress. That’s what drives prices down.I Wonder what the inventory volume and the sales volume is like for these areas?
